Freehold communities in established neighborhoods to be built by Dubai developers

Freehold communities in established neighborhoods to be built by Dubai developers

14.09.2014

In light of the flourishing real estate market in Dubai, developers are now looking beyond established free hold communities to launch their residential projects. As the Dubai real estate market flourishes and the demand for investment increases, developers are now looking out for other locations other than the established freehold areas for their new projects. Tecom Investment recently under took a villa project on Umm Suqeim Road and Jersey Properties launched an apartment cluster in Mirdif, reported by Gulf News.
Developers are now concentrating on the freehold status of projects to attract more buyers. Jersey Properties claims that for the very first time, a freehold status will be granted to Mirdif Tulip apartments. The one bedroom apartments will be priced around AED 1.1 million. The three bedroom apartments will be priced between AED 1.8 million to AED 2.2 million.
With numerous projects taking off in Dubai, developers are looking for any locational or marketing unique selling point (USP). And one such USP is building residential complexes in areas that have been restricted to non-freehold status. Furthermore, there is an issue of space in the existing freehold communities and developers are now offering a high-end living experience to its buyers.
Currently, Mirdif is an up scale area, where the residential communities have grown considerably. Also, the presence of the popular Mirdif city center has led many mall developers to consider projects here.